Reata Pharmaceuticals (RETA) Cut to Sell at ValuEngine

ValuEngine lowered shares of Reata Pharmaceuticals (NASDAQ:RETA) from a hold rating to a sell rating in a research note published on Thursday, November 9th.

RETA has been the topic of a number of other reports. Zacks Investment Research cut Reata Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, July 18th. Piper Jaffray Companies raised their target price on Reata Pharmaceuticals from $53.00 to $60.00 and gave the company a buy rating in a research report on Monday, July 24th. Citigroup reaffirmed a buy rating and issued a $87.00 price target (up from $39.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Ladenburg Thalmann Financial Services reaffirmed a buy rating and issued a $61.00 price target (up from $55.00) on shares of Reata Pharmaceuticals in a research note on Wednesday, July 26th. Finally, Jefferies Group assumed coverage on shares of Reata Pharmaceuticals in a research note on Wednesday, August 30th. They issued a buy rating and a $44.00 price target on the stock. Two research analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $54.71.

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Reata Pharmaceuticals (NASDAQ RETA) traded up $0.78 during midday trading on Thursday, hitting $26.28. The company had a trading volume of 116,513 shares, compared to its average volume of 119,222. The company has a debt-to-equity ratio of -0.15, a quick ratio of 3.18 and a current ratio of 3.18. Reata Pharmaceuticals has a 52-week low of $18.51 and a 52-week high of $40.88.

Reata Pharmaceuticals (NASDAQ:RETA) last released its earnings results on Monday, November 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.11). The company had revenue of $12.60 million during the quarter, compared to analysts’ expectations of $12.54 million. The business’s quarterly revenue was up .0% compared to the same quarter last year. analysts expect that Reata Pharmaceuticals will post -1.9 earnings per share for the current fiscal year.

In related news, Director James Edward Bass bought 3,888 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average price of $24.02 per share, for a total transaction of $93,389.76. Following the acquisition, the director now owns 52,089 shares of the company’s stock, valued at $1,251,177.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 44.00% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Crestline Management LP acquired a new position in shares of Reata Pharmaceuticals in the third quarter worth $1,880,000. First Allied Advisory Services Inc. acquired a new position in shares of Reata Pharmaceuticals in the third quarter worth $203,000. Alyeska Investment Group L.P. acquired a new position in shares of Reata Pharmaceuticals in the third quarter worth $2,832,000. California State Teachers Retirement System grew its stake in shares of Reata Pharmaceuticals by 21.2% in the third quarter. California State Teachers Retirement System now owns 18,325 shares of the company’s stock worth $570,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Reata Pharmaceuticals by 83.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 49,828 shares of the company’s stock worth $1,550,000 after acquiring an additional 22,628 shares in the last quarter. Hedge funds and other institutional investors own 29.61% of the company’s stock.

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About Reata Pharmaceuticals

Reata Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on identifying, developing and commercializing product candidates that modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a range of serious or life-threatening diseases.